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Rex unit proposes US$4.5m preference share issue to fund Oman well drilling

Published Fri, Dec 20, 2019 · 09:50 PM

Singapore

AN indirect unit of Rex International, Masirah Oil Ltd (MOL), is proposing to issue US$4.5 million of preference shares priced at US$477.70 apiece to Trace Atlantic Oil to fund its drilling activities and operations in Oman.

Rex indirectly holds a 92.65 per cent stake in MOL that will be reduced to 87.40 per cent following the Trace Atlantic deal.

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Companies & Markets

Companies & Markets

Rex unit proposes US$4.5m preference share issue to fund Oman well drilling

Companies & Markets

Porsche posts Q1 profit drop on ramp-up costs

IBM plots US$730 million expansion of Canadian semiconductor site

Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early

Yeo Guat Kwang, John Chen retiring from corporate boards

US: Wall St opens higher

Air China orders homegrown C919s in challenge to jet duopoly

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